Tool for the trade: Edmonton couple uses big data to aid home buyers

Elisse and Roberto Moreno — partners both in love and business — hope to change the way Canadians buy and sell real estate. In October 2015, with some grant money from the federal government and collaboration with the City of Edmonton, they launched a progressive and comprehensive online app, available exclusively through Home Tribe, the real estate firm Elisse operates through RE/MAX Excellence.

Jodie McKague, Edmonton Journal

Published on: March 4, 2016 | Last Updated: March 4, 2016 6:19 PM MST

When selling a home, a multiple-offer scenario can push prices higher, but there are risks attached.Ken Blevins / Associated Press

Looking for a home is a lot like looking for the perfect mate. If you end up falling only for the curb appeal, chances are it’s not going to be a very fruitful match. This is why matchmakers encourage seekers to write down in detail what needs and desires they are looking for, in an attempt to create algorithms the brain will look for and recognize when prospects finally manifest into tangible outcomes.

Enter Elisse and Roberto Moreno. The down-to-earth Edmonton couple — partners both in love and business — hope to change the way Canadians buy and sell real estate. In October 2015, with some grant money from the federal government and collaboration with the City of Edmonton, they launched a progressive and comprehensive online app called Home Tribe Match, available exclusively through Home Tribe, the real estate firm Elisse operates through RE/MAX Excellence.

A user-friendly focus

The user-friendly tool enables buyers to filter online searches through a detailed list of specifications and requirements that take into consideration everything from crime rates, location of schools, proximity to favourite pubs and cafes, proximity to specific ethnic and cultural communities, and even how far a commute the property is to work — whether that be by foot, transit or by car. In other words, “we just really wanted to give a whole picture of a house, rather than just a house by itself,” Elisse said.

To do this, she and Roberto spent almost 18 months working with a team of researchers, developers and data analysts researching and curating soft data. The team scoured local articles about Edmonton housing trends, analyzed statistics, gathered open data from the City of Edmonton, filed FOIP requests to open records on certain properties, and made adjustments to the technology through trial and error and focus groups — all in an attempt to create algorithms that would help simplify the process of shopping for a home and bring more transparency to the real estate industry.

“We really wanted to work with big data and analytics and change the way the industry is working right now, “ said Elisse, who, besides being the daughter of Edmonton realtor Wayne William Heine, also worked alongside Roberto for more than a decade in their tech company that specialized in helping Canadian real estate agents market their personal brands. “To us it kind of felt that the real estate industry is lacking transparency of knowledge and data,” she said. “I’m not going to say we’re perfect yet — but that’s our vision. We want to be able to provide transparency.”

The transparency includes issues like houses that were formerly used for grow operations, which streets are safer in particular neighbourhoods, as well as what houses actually sold for. The objective is to help buyers and sellers can make decisions grounded in logic, fact and reason when placing or accepting offers to purchase, without having to pressure realtors into disclosing information they might not have known to ask.

Aiding online research

The couple also says they were driven to develop this technology to empower home buyers who conduct their own online research. They were conscious to design a user-friendly tool that would save time while being in-depth and informative, allowing the realtor more of a true advisory role to help guide decisions, connect with the right lenders, and offer support on negotiations rather than exhausting energy presenting information to clients that many would prefer to find on their own.

“We felt that there was a disconnect,” said Elisse. “People ended up having to go to multiple places to research. They either had a realtor that knew an area amazingly well, or they had to do tons of research. So there was this perfect parallel of open data becoming available in Edmonton, and then some of our own proprietary data that we could develop something that really brought it all together. That’s where the idea came from. “

Right now, the technology is only available by visiting the Home Tribe website (www.hometribe.ca), where visitors can play around with the tool filters like they might on an MLS website. Eventually the couple plans to expand to other major Canadian cities and create algorithms specific to those centres by curating local data like they did in Edmonton. They are also working on a similar technology for sellers, and envision the tool eventually transferring over into other industries.

“It was built in a way that it could help an urban planner. It could help business owners decide ‘OK, where should I have a coffee shop?’ ” said Roberto, adding that Edmonton is the ideal Canadian city to see if the the real estate industry is truly ready for such a change. “Edmonton is a great place to test new ideas. It’s a great place to introduce stuff and really get a good feel if it’s on the right track.”

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